$159,900 - 563 Mornington Avenue Unit 1004, London East
Condo for Sale in London East
46 days on marketNeighbourhood: East G
- MLS Number
- X13526718
- Property Type
- Condo
- Status
- active
- Days on Site
- 46
- Bedrooms
- 2
- Bathrooms
- 1
- Square Feet
- 800 sqft
- Neighbourhood
- London East
- Locker
- None
- Exposure
- East
- Balcony
- Open
- Listing Brokerage
- RE/MAX CENTRE CITY REALTY INC.
Welcome to Unit 1004 at 563 Mornington Avenue-a fantastic opportunity for both investors and future homeowners. Whether you're looking to purchase an income-producing property with reliable rental income or move in yourself and build equity through your own updates and improvements, this property offers excellent potential. This bright and well-maintained 880 sq. ft. condo features two bedrooms, one bathroom, and is located on the 10th floor, offering plenty of natural light and attractive views. The unit is currently tenanted. The tenants are open to either remaining in the property or vacating for a buyer who wishes to occupy the unit, providing flexibility to suit your plans. A minimum of 24 hours' notice is required for all showings.
Estimate your monthly payments for this property
Estimated Payment
$820.37/mo
Includes CMHC insurance ($4,461)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover East G
East G is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in East G
- •Convenient location in London East
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
East G offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
563 Mornington Avenue Unit 1004, London East
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $200/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 46 days on site, this property has exceeded the typical selling timeline for London East. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Condo Considerations
For condos, I always review the status certificate thoroughly. Key things I look for: reserve fund health (should be well-funded), any upcoming special assessments, rules that might affect your lifestyle (pets, rentals, renovations), and the corporation's financial statements. We'll want to verify the monthly fees and what they include.
Efficient Living
At 800 sqft, this is a more compact space. The upside: lower utility bills, less maintenance, and easier cleaning. Consider how you'll use the space - built-in storage, multi-functional furniture, and good organization become important. Great for singles, couples, or those who prefer a low-maintenance lifestyle.
About East G
I know East G well from working with many buyers and sellers here. Each pocket has its own character - let me share what I've learned about this specific street and block. During our showing, I'll point out local amenities, school catchments, and what similar homes have sold for recently.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.